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Commodities Briefing - Categorized | Oil, Price Watch more

Iran’s Oil Minister: Not Alarmed by Crude Price

Posted on 27 August 2014

Iran’s oil minister said Tuesday he wasn’t alarmed by a recent drop in crude oil futures, reflecting a widely- held view among oil producers that prices are still at an acceptable level and their decline won’t last. The remarks suggest members of the Organization of the Petroleum Exporting Countries–of which Iran is one of the largest–won’t need to alter their production for the time being.
Iran’s oil minister Bijan Zanganeh was quoted by his ministry’s Shana website as saying “crude oil prices on global markets are at an appropriate level and seasonal fluctuations in crude oil prices will not continue.”……………………………………….Full Article: Source


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